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December 1, 2017updated 07 Apr 2021 4:39pm

Maple Leaf snaps up Field Roast Grain Meat Co for US$120m

Canada's Maple Leaf Foods has entered an agreement to buy Field Roast Grain Meat Co for US$120m as part of a strategy to expand its product range in the US.

By Dean Best

Canada’s Maple Leaf Foods has entered an agreement to buy Field Roast Grain Meat Co for US$120m as part of a strategy to expand its product range in the US.

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Maple Leaf, a consumer protein company located in Ontario, will fund the acquisition with a combination of its own cash and from an existing credit facility, with the transaction expected to be completed by year-end, according to a statement yesterday (30 November). The deal is subject to the approval of regulatory authorities.

Field Roast supplies grain-based meat and vegan cheese products to the North American market. Its range also includes sausages, frankfurters, burgers, deli slices and Chao brand vegan cheese. The company, based in Seattle, Washington, generates annual revenues of about $38m.

Maple Leaf’s chief executive Michael McCain said the purchase will help grow its presence in the US market for alternative proteins and “aligns with our vision to be a leader in sustainable protein and create shared value through making a positive social impact”.

“Field Roast has built brand leadership through focusing on quality, craftsmanship and taste, and its acquisition will allow Maple Leaf to fuel growth in the category through investment, brand building and innovation,” he added.

The Canadian firm made inroads into the meat-free industry with the purchase earlier this year of Lightlife Foods.

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Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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